The Powerball jackpot has surged to an estimated $1.5 billion for Saturday night’s drawing, continuing the game’s remarkable holiday jackpot streak. The jackpot’s estimated cash value stands at $686.5 million. Saturday’s prize ranks as the fifth largest in Powerball history and the seventh largest among all U.S. lottery jackpots. The jackpot rolled over after no ticket matched all six numbers in the most recent drawing. Although there was no grand prize winner, lottery officials are reminding players to check their tickets closely, as many won cash prizes in Wednesday night’s drawing.
Saturday’s Powerball drawing will mark the 45th in the current jackpot run—a new record for the most drawings in a single jackpot cycle. The Powerball jackpot was last won on September 6th, when two tickets in Missouri and Texas split a $1.787 billion prize. This is only the second time in Powerball history that back-to-back jackpots have exceeded $1 billion. The only previous occurrence was in 2023, when a $1.08 billion jackpot was claimed on July 19th, followed by a $1.765 billion jackpot on October 11th. Both of those prizes were won in California.
If a player wins Saturday’s jackpot, they will have the option of choosing an annuitized prize estimated at $1.5 billion or a lump sum payment of approximately $686.5 million, before taxes. The annuity option includes one immediate payment followed by 29 annual payments, each increasing by 5 percent every year.
Powerball drawings are broadcast live every Monday, Wednesday, and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee, Florida. Drawings are also live-streamed on Powerball.com.